"Stronger Southwest" will interview Elliott Investment Management's board of directors slate
The hedge fund that’s seeking big changes at Southwest Airlines (LUV) wants to give its fellow shareholders an earful. Elliott Investment Management is launching a podcast to familiarize people with the board of directors nominees the fund wants to install at the carrier ahead of a special meeting Elliott has called for later this year.
“Elliott called for a December 10 special meeting of shareholders, seeking the election of eight best-in-class nominees to serve on Southwest’s Board,” the fund said in a press release. “Today’s launch of an innovative new podcast series will offer shareholders an opportunity to learn more about these uniquely qualified nominees.”
For months, the fund has been engaged in an activist campaign to remove Southwest’s management team after a difficult stretch of floundering business. The first episode of the series, titled “Stronger Southwest” after the campaign’s slogan, will feature Gregg Saretsky, the former president and CEO of Canadian airline WestJet.
Southwest Airlines did not immediately respond to a request for comment. In recent months, the company has unveiled big changes, such as getting rid of its signature open-seating plan.
The hedge fund says those changes are too little, too late, but some observers question whether the “comprehensive business review” Elliott wants to initiate is worth all the trouble of wholesale leadership change.
Join 500,000+ readers who start their day with Quartz.
By subscribing, you agree to our Terms of Service and Privacy Policy.
